Pro Farmer’s Daily Advice Monitor

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August 28: No updates.

August 27: Wheat producers: Advance 2026, initiate 2027 crop sales... Wheat futures have surged higher amid constrained exports out of the Black Sea. Wheat is trading at multi-year highs, providing a good selling and hedging opportunity. We advise selling 30% of 2026 production to get to 60% sold in the cash market. We also advise initiating 2027 crop sales, selling 10% of anticipated production. Price action remains predicated on rhetoric around the Black Sea and the rally deserves rewarding, despite persistent bullish world fundamentals.

August 26: Corn producers: Initiate 2027-28 crop sales... December 2027 corn futures are trading above $5.30, the highest price in nearby futures in three years, offering an opportunity to lock in revenue at relatively high prices. We advise cash only marketers and hedgers to initiate corn sales totaling 10% of expected 2027-28 production. Cash only marketers should be 70% forward sold on the 2026 crop while hedgers should be 60% covered.

Soybean producers: Initiate 2027-28 crop sales... Soybean futures broke to fresh multi-year highs and November 2027 futures are trading well above the $12.00 mark. While the market could continue to work higher, historically high prices offer an opportunity to lock in revenue. We advise cash only marketers to initiate sales on 10% of expected 2027 production. Cash only marketers should be 75% sold on expected 2026 production, while hedgers have 65% of expected 2026 production covered.

• August 25: No updates.
• August 24: Corn producers: Finish old-crop, advance new crop sales... Futures surged to contract and multi-year highs as the prospects for the U.S. crop are well below previously expected. A shortfall in production leads to concerns on demand, leading to higher volatility, so actively taking advantage of higher prices is prudent. We advise producers to sell 10% of old-crop stocks. You should now be 100% sold on 2025 production. We advise cash only marketers to sell 20% of expected 2026 production, bringing total sales to 70% forward sold. We advise hedgers to cover the remaining half of the $4.80 puts (20% of production), which closed at 9¢ for a 23¢ loss. We also advise hedgers to sell 20% of expected production to get to 60% forward sold. We will look to add additional coverage via put options in the coming weeks to establish a floor on a portion of unsold crops.

• Soybean producers: Advance new-crop sales... Soybean futures ran into stiff resistance at the July highs as production prospects look promising despite the challenges the corn crop has faced throughout the growing season. Demand remains somewhat contingent on U.S.-China relations despite persistent record crush use. We advise cash only marketers to sell another 20% of new-crop soybeans, bringing total coverage to 75% sold. We advise hedgers to sell the $11.60 puts covering 40% of production, which closed at 8 3/4 cents for a 51 1/4¢ loss. We also advise hedgers to sell 30% of expected production to get to 65% sold. We will look at covering additional production via put options in the coming weeks.

• *Note: Check below daily to see if we recommend catch-up sales for individual markets.